The flick tells the early 1900s story of a British writer named Christian (played by Ewan McGregor) who falls in love with the Moulin Rouge's notoriously beautiful star, Satine (portrayed by Nicole Kidman).

Nicole and Ewan in Moulin Rouge. (Photo Credit: R/R)

As the story unfolds, viewers meet supporting characters Harold Zidler, the owner of the Moulin Rouge in Paris, and Henri de Toulouse-Lautrec, the leader of the Moulin Rouge dancing troupe. Harold was played by actor Jim Broadbent and Henri was portrayed by John Leguizamo.

Though the movie's musical numbers totally captivated audiences, the characters' costumes stole the show as well. Interestingly, not many Moulin Rouge fans know the story behind the iconic diamond necklace Satine wears in the film.

The Satine Necklace from Moulin Rouge. (Photo Credit: Getty Images)

The necklace — designed by Stefano Canturi — is estimated to be worth $1 million and is the most expensive piece of jewelry ever created for a movie. The original bauble was made up of 1,308 diamonds and weighed around 134 carats.

The Satine Necklace was once put up for sale through Christie’s in NYC, but hours before the auction, designer Canturi told a Christie's employee he couldn't part with the piece and kept it as part of his personal collection.

Check out more fascinating Moulin Rouge facts in the gallery below!

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In original drafts of the script, Satine had a three-year-old child and the Moulin Rouge love story was told by Christian to the little one.

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Nicole Kidman broke two ribs while shooting the film. In fact, she was sitting in a wheelchair in some scenes where you can only see her from the waist up!

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Satine's gorgeous necklace was the most expensive piece of jewelry ever made for a film. The Stefano Canturi piece includes 1,308 diamonds and is worth an estimated $1 million. The necklace was so precious filmmakers brought in a "stunt double" piece for the scene when the Duke yanks it off Satine's neck to ensure the real bauble wouldn't be damaged.

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Catherine Zeta-Jones, Renée Zellweger, Kate Winslet, and Hilary Swank were all considered for the part of Satine before Nicole Kidman landed the role.

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Courtney Love also auditioned for the role of Satine and has said losing the part was one of the biggest disappointments of her acting career.

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Leonardo DiCaprio reportedly wanted to play Christian in the movie but he can't sing. Heath Ledger, Hugh Jackman, and Jake Gyllenhall were all also considered for the role before Ewan McGregor snagged the coveted part.

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Coca-Cola was used on the studio floor to prevent the Moulin Rouge dancers from slipping during the "Like a Virgin" number.

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Jim Broadbent — who played Harold Zidler — spent two and a half hours every day before filming just being fitted into his fat suit.

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Nicole Kidman actually wears a wig throughout the 2001 movie — who knew?!

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Moulin Rouge became the first movie musical in ten years to be nominated for the Best Picture Oscar. Beauty and the Beast was the last to receive the honor in 1991.